Carmel Capital Partners LLC Raises Stake in Equity Residential (NYSE:EQR)

Carmel Capital Partners LLC grew its stake in shares of Equity Residential (NYSE:EQR) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,329 shares of the real estate investment trust’s stock after purchasing an additional 205 shares during the period. Carmel Capital Partners LLC’s holdings in Equity Residential were worth $471,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Norden Group LLC acquired a new position in shares of Equity Residential during the 1st quarter worth $414,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Equity Residential by 104.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,048 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 2,583 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Equity Residential by 32.8% during the 1st quarter. Empowered Funds LLC now owns 5,620 shares of the real estate investment trust’s stock worth $355,000 after buying an additional 1,389 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Equity Residential by 72.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 116,790 shares of the real estate investment trust’s stock worth $7,371,000 after buying an additional 48,975 shares during the last quarter. Finally, Forsta AP Fonden raised its stake in shares of Equity Residential by 6.5% during the 1st quarter. Forsta AP Fonden now owns 74,900 shares of the real estate investment trust’s stock worth $4,727,000 after buying an additional 4,600 shares during the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Truist Financial lifted their price target on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. UBS Group boosted their target price on shares of Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. BNP Paribas started coverage on shares of Equity Residential in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 target price for the company. Scotiabank boosted their target price on shares of Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Finally, Wedbush boosted their target price on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.19.

Equity Residential Stock Up 2.4 %

Shares of NYSE:EQR opened at $73.53 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.21 and a current ratio of 0.13. Equity Residential has a 1 year low of $53.48 and a 1 year high of $78.83. The stock has a market capitalization of $27.90 billion, a P/E ratio of 30.14, a PEG ratio of 5.96 and a beta of 0.90. The stock has a 50-day simple moving average of $74.48 and a 200-day simple moving average of $70.40.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s payout ratio is currently 110.66%.

Equity Residential Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.